The 27,124-square-foot Upper East Side building between First and Second Avenues consists of 46 units, 31 of which are two-bedroom apartments.

The property has no rent-regulated apartments and the average rent is $2,772. It is 96 percent occupied, according to a Harbor Group news release. The deal for the building closed on Aug. 31, according to property records released today.

“This was a unique opportunity to acquire an easily managed asset along the East 79th Street corridor which has been undergoing a renaissance due to new development projects by Skyline Development, Anbau, and The Brodsky Organization as well as the nearly complete Second Avenue subway,” Mr. Gammino said in prepared remarks.

Harbor Group purchased the East 79th Street property in July 2013 for $20.5 million. It was the Harbor Group’s first multifamily property purchase in New York City. Over the years, the company invested $1.2 million for renovations of the property.

The East 79th Street building was once home to the Cherokee Club, a Democratic Party clubhouse, according to The New York Times.